Page 406 - SALIK ENGLISH PR REPORT NOVEMBER 2024

11/6/24, 12:27 PM Mideast Stocks: Major Gulf markets mixed ahead of US election
Saudi Arabia's benchmark index .TASI dropped 0.8%, weighed down by a 1% fall in aluminium products
manufacturer Al Taiseer Group 4143.SE and a 0.5% decrease in Al Rajhi Bank 1120.SE.

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Oil behemoth Saudi Aramco 2222.SE was down 0.6%, after reporting a 15.4% drop in third-quarter profit
due to lower crude prices and weaker refining margins.

It, however, maintained its dividend at $31.1 billion for the quarter.

Meanwhile, the kingdom posted a budget deficit of 30 billion riyals ($8 billion) in the third quarter, a
finance ministry statement showed on Monday, as lower oil prices weighed on revenue.

Dubai's main share index .DFMGI eased 0.2%, with toll operator Salik Company SALIK.DU losing 1.2%,

while Sharia-compliant lender Dubai Islamic Bank DISB.DU fell 0.2%, ahead of its earnings
announcement.

In Abu Dhabi, the index .FTFADGI was flat.

Oil prices - a catalyst for the Gulf's financial markets - traded in a narrow range ahead of what is
expected to be an exceptionally close U.S. presidential election, after rising more than 2% in the

previous session as OPEC+ delayed plans to hike production in December.

The Qatari benchmark index .QSI added 0.1%, helped by a 0.4% rise in Qatar Islamic Bank QISB.QA.

($1 = 3.7562 riyals)

(Reporting by Ateeq Shariff in Bengaluru)

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